JPMorgan Chase & Co. Sells 24,748 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

JPMorgan Chase & Co. lowered its holdings in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 8.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 253,585 shares of the medical equipment provider's stock after selling 24,748 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.55% of BioLife Solutions worth $6,583,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new stake in BioLife Solutions in the 4th quarter worth approximately $26,000. 1620 Investment Advisors Inc. increased its holdings in BioLife Solutions by 41.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider's stock worth $60,000 after acquiring an additional 675 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in BioLife Solutions by 27.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,469 shares of the medical equipment provider's stock worth $117,000 after acquiring an additional 950 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in BioLife Solutions in the 4th quarter worth approximately $171,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in BioLife Solutions in the 4th quarter worth approximately $201,000. Hedge funds and other institutional investors own 93.24% of the company's stock.

BioLife Solutions Price Performance

Shares of NASDAQ BLFS traded up $2.51 during midday trading on Wednesday, reaching $24.40. 166,717 shares of the stock traded hands, compared to its average volume of 376,089. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. The stock has a market capitalization of $1.16 billion, a PE ratio of -23.02 and a beta of 1.93. BioLife Solutions, Inc. has a one year low of $16.10 and a one year high of $29.55. The company's 50 day moving average is $24.41 and its 200 day moving average is $25.22.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last posted its earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.32. The firm had revenue of $22.71 million during the quarter, compared to the consensus estimate of $21.73 million. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. During the same period in the prior year, the company earned ($0.21) EPS. On average, equities research analysts anticipate that BioLife Solutions, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BLFS. Northland Securities increased their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the company an "outperform" rating in a report on Wednesday, January 8th. StockNews.com raised shares of BioLife Solutions from a "sell" rating to a "hold" rating in a report on Tuesday, April 8th. Finally, HC Wainwright increased their price objective on shares of BioLife Solutions from $27.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, March 6th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, BioLife Solutions presently has a consensus rating of "Moderate Buy" and an average price target of $31.17.

Insider Buying and Selling

In related news, insider Sarah Aebersold sold 5,771 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $22.66, for a total transaction of $130,770.86. Following the transaction, the insider now directly owns 80,094 shares in the company, valued at approximately $1,814,930.04. This represents a 6.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Aby J. Mathew sold 10,589 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $22.66, for a total transaction of $239,946.74. Following the transaction, the executive vice president now owns 309,576 shares in the company, valued at $7,014,992.16. The trade was a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,127 shares of company stock valued at $1,676,533. Company insiders own 2.20% of the company's stock.

BioLife Solutions Profile

BioLife Solutions, Inc develops, manufactures, and markets bioproduction tools and services for the cell and gene therapy (CGT) industry in the United States, Europe, the Middle East, Africa, and internationally. The company's products are used in the basic and applied research, and commercial manufacturing of biologic-based therapies.